Transcripts for CNN CNN Newsroom Live 20211018 06:14:00

that china is announcing that its economy is slowing down through the form of this third-quarter gdp report. it announced earlier today that its economy grew 4.9% in the third quarter compared to the same period a year ago. that is a sharp slowdown from the 7.9% growth it achieved in the previous quarter. china is facing quite a number of economic challenges. you have weak consumer spending due, in part, to ongoing delta flare-ups throughout the country. you also have the energy crisis, which is worsening due to the record-high prices of coal. it's china's main source of energy. as a result, there have been power outages across china that has forced china to ration electricity in 20 provinces. it's also forced factories to suspend production which has been a hit on industrial production inside the country. and on top of that, you have the evergrande debt crisis. evergrande is of course china's most heavily indebted developer with over $300 billion worth of

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